NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until June 17, 2024 to file lead plaintiff applications in a securities class action lawsuit against Perion Network Ltd. (NasdaqGS: PERI), if they purchased or otherwise acquired the Company’s shares between February 9, 2021 and April 5, 2024, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of Perion and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-peri/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by June 17, 2024.
About the Lawsuit
Perion and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On April 8, 2024, the Company, whose most significant search partner and largest source of revenue is Microsoft, disclosed reduced revenue and adjusted EBITDA expectations for Q1 2024, as well as reduced full-year 2024 guidance to revenue of only $590 million to $610 million (down 19% year over year, from an original range of $860 million to $880 million, or growth of 17% year over year), due to changes to Microsoft Bing’s search advertising pricing and mechanisms.
On this news, the price of Perion’s shares fell by $8.61 per share, or approximately 40%, on April 8, 2024.
The case is Beisner v. Perion Network Ltd., et al., 24-cv-02860.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
